Pharma CEO to run for Senate

Bob Hugin, former CEO of pharmaceutical company Celgene, will run as a Republican in New Jersey's U.S. Senate race this November, Bloomberg reports. If he wins his party's primary, he will square off against Democratic incumbent Bob Menendez.

The bottom line: Hugin told me last month at the J.P. Morgan Healthcare Conference that he was seriously considering a run. But Hugin likely will have to answer major questions about his past at Celgene, a company that has made it a habit of levying large price hikes on its drugs.